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NGX extends bullish rally to ninth day



The rally on the local equity market entered its ninth day on Tuesday bumping the market capitalisation of the Nigerian Exchange to about N53.97tn.

At the end of trading, investors enjoyed N1.56tn gain.

At the close of trading, the All-Share Index sustained its bullish sentiment performance to appreciate by 2.97 per cent to 98,616.97 basis points, bringing it closer to the historic 100,000 points.

 In an earlier chat with The PUNCH, the Managing Director/Chief Executive Officer, Kapital Care Securities Ltd, Andrew Tsaku, had projected that the market benchmark would hit 100,000 before there would be a pullback.

“For the first time in a long time, our listed stocks are having a better and more realistic reflection of their intrinsic values. I remain unperturbed with the current posture of the market and would rather relish it because I expect the market to still grow towards an index of 100,000 before there may be a ‘normalisation,” he averred.

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